As we’ve been reporting, San Francisco’s First Republic Bank is no more, it has been seized by the government and quickly sold last night to JPMorgan Chase. That affects thousands of accountholders here in the Bay Area and deepens concerns over the stability of the U.S. banking system. The swift and sudden collapse of First Republic follows the failures of Silicon Valley Bank and Signature Bank and it essentially means that if you bank at First Republic, it’s business as usual for now, but soon you will find yourself a Chase customer instead.

For more, Brett Burkhart, Patti Reising, and Doug Sovern spoke with Professor Ross Levine, the Willis H. Booth Chair of Banking and Finance at UC Berkeley’s Haas School of Business. He is an economist with a PhD from UCLA, and he previously worked at both the Board of Governors of the Federal Reserve System and the World Bank.